NEWS : Richemont announces changes to Senior Executive Committee

Richemont has just announced some changes to its Senior Executive Committee. The most notable of these is the creation of a new Chief Operating Office position, to be filled by Mr Jérôme Lambert. He will be responsible for all Maisons other than Cartier and Van Cleef and Arpels, as well as continuing to be responsible for the Richemont regional support platforms and central support services, excluding Finance, Human Resources and Technology.

A new position to assist the COO, that of Head of Specialist Watchmakers Distribution, has also been created. It is to be filled by Mr Emmanuel Perrin, currently International Sales Director of Cartier and a twenty-five year company veteran. He will also join the Richemont Group Senior Executive Committe.

In other Richemont news, they also announced a successful first six months of the financial year, in part because of the cessation of watch buybacks from Asian distributors. Even with the exclusion of this factor, sales still increased by 8%, with sales in the Asia-Pacific region jumping 25% to 2.1 billion Euros.

Sales in the Americas rose 10% to 890 million Euros and in Europe, 3% to 1.6 bilion Euros. Net profit increased 80% to 974 million Euros, with sales rising 10% to 5.6 billion Euros.